SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) DECEMBER 9, 1998
Asset Backed Securities Corporation
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
333-64351 13-3354848
(Commission File Number) (I.R.S. Employer
Identification No.)
11 Madison Avenue, New York, New York 10010
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(Address of Principal Executive Offices) (Zip Code)
(212) 325-1811
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
- --------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
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<PAGE>
Item 5. Other Events.
Filing of Computational Materials
Pursuant to Rule 424(b) under the Securities Act of 1933, Asset Backed
Securities Corporation (the "Depositor") will file a prospectus and prospectus
supplement with the Securities and Exchange Commission relating to Asset Backed
Securities Corporation Home Equity Loan Pass-Through Certificates, Series
1998-1LB (the "Certificates").
In connection with the offering of the Certificates, Credit Suisse First
Boston Corporation, the underwriter of the Certificates (the "Underwriter"), has
prepared certain materials (the "Computational Materials") for distribution to
its potential investors. Although Long Beach Mortgage Company (the "Originator")
prepared certain information regarding the characteristics of the home equity
loans in the related portfolio, it did not participate in the preparation of the
Computational Materials. The Computational Materials are attached hereto as
Exhibit 99.1.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
EXHIBIT NO. Document Description
99.1 Computational Materials
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ASSET BACKED SECURITIES CORPORATION
(Registrant)
Dated: December 11, 1998 By: /S/ FIACHRA O'DRISCOLL
Name: Fiachra O'Driscoll
Title: Authorized Officer
<PAGE>
INDEX TO EXHIBITS
EXHIBIT NO. Document Description
99.1 Computational Materials
**PRELIMINARY**
TERM SHEET DATED DECEMBER 9, 1998
ASSET BACKED SECURITIES CORPORATION
DEPOSITOR
CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC
SELLER
LONG BEACH MORTGAGE COMPANY
ORIGINATOR/SERVICER
ASSET BACKED SECURITIES CORPORATION HOME EQUITY LOANS,
SERIES 1998-1LB
$650,000,000 (APPROXIMATE)
**Subject to Revision**
SELLER Credit Suisse First Boston Mortgage Capital LLC
ORIGINATOR/SERVICER: Long Beach Mortgage Company ("Long Beach")
TRUSTEE: Chase Bank of Texas, N.A.
UNDERWRITER: Credit Suisse First Boston Corporation
BOND INSURER: MBIA, Incorporated
<TABLE>
<CAPTION>
OFFERED CERTIFICATES:
To Call*: Expected Ratings WAL at 100% of Payment Expected
Amount(1) Tranche Type (Moody's/S&P) Prepay. Model Window Maturity
GROUP F Fixed-Rate Home Equity Collateral
<S> <C> <C> <C> <C> <C> <C>
Class F-A $50,000,000 Fixed-Rate [ TBA ] [ TBA ] [ TBA ] [ TBA ]
Pass-through
TOTAL $150,000,000
TO CALL*:
GROUP I-A FNMA Eligible Adjustable-Rate Home Equity Collateral
Class IA-1 [$340,000,000] Floating-Rate Not Available
Pass-through
GROUP II-A Hybrid and 6ML Adjustable-Rate Home Equity Collateral
Class IIA-1 [$160,000,000] Floating-Rate [ TBA ] [ TBA ] [ TBA ] [ TBA ]
Pass-through
TOTAL ARMS [$500,000,000]
BALANCE [$650,000,000]
* RUN TO 10% CALL
(1) Includes additional collateral to be added to the Trust at the Closing Date
and a Pre-Funded Amount of approximately .
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
CUT-OFF DATE: December 1, 1998 (or the first day of the
month of purchase by the Depositor, if
later), in each case for loans other than
Subsequent Home Equity Loans. For each
Subsequent Home Equity Loan, the date of
purchase by the Trust.
EXPECTED PRICING: [Thursday, December 10, 1998].
EXPECTED SETTLEMENT: [Tuesday, December 22, 1998] (the actual date
of closing, the "Closing Date").
DETERMINATION DATE: The 15th day of each month (or if such 15th
day is not a business day, the next
succeeding business day) commencing on
January 15, 1999.
RECORD DATE: With respect to any Distribution Date, the
last day of the month immediately preceding
the calendar month in which such Distribution
Date occurs.
DISTRIBUTION DATE: The [25]th day of each month (or if such
[25]th day is not a business day, the next
succeeding business day) commencing on
January [25], 1999.
CROSS COLLATERALIZATION: On each Determination Date the Amount
Available for each Sub-Pool remaining after
making distributions in respect of the
related Certificates will generally be
available to make distributions in respect to
the Certificates related to the other
Sub-Pool.
ERISA: The Class A Certificates are ERISA eligible.
Other classes may not be ERISA eligible.
SMMEA: The Class A Certificates will constitute
"mortgage related securities" for the
purposes of the Secondary Mortgage Market
Enhancement Act of 1984 ("SMMEA") for so long
as they are rated not lower than the second
highest rating category by a Rating Agency
and, as such, will be legal investments for
certain entities to the extent provided in
SMMEA. Other classes will not be SMMEA
eligible.
CERTIFICATE INSURANCE POLICY: The Certificate Insurer will issue a
certificate guaranty insurance policy (the
"Policy") for the benefit of the
Certificates. This policy will
unconditionally and irrevocably guarantee the
timely payment of interest on and the
ultimate payment of the principal amount of
each class of Certificates.
TAX STATUS -- REMIC: The Trust will contain two segregated asset
pools with respect to which elections will be
made to treat each as a separate "real estate
mortgage investment conduit" (a "REMIC") for
federal income tax purposes.
CERTIFICATE RATING: [It is a condition to the issuance of the
Class A Certificates that they receive
ratings of "AAA" by Standard & Poor's, a
division of McGraw Hill Companies, Inc.
("S&P") and "Aaa" by Moody's Investors
Service, Inc. ("Moody's").]
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
OPTIONAL REDEMPTION: 10% optional clean-up call.
ADDITIONAL COLLATERAL AND
OTHER TRUST PROPERTY: The data set forth below with respect to each
Sub-Pool is based solely on the loans
identified for inclusion in each Sub-Pool as
of the related Cut-off Date ("Initial Home
Equity Loans"). Certain additional loans will
be identified for inclusion into each
Sub-Pool prior to the Closing Date
("Additional Home Equity Loans"). During a
limited period following the Closing Date,
the Trust Fund will purchase subsequent loans
("Subsequent Home Equity Loans"). It is
expected that the Additional and Subsequent
Loans will have characteristics that are
substantially similar to the related group of
original loans.
On the Closing Date, however, cash will be
deposited with the Trustee in an amount equal
to interest accrued on such Mortgage Loans,
for the related Interest Accrual Period for
distribution (net of the related Servicing
Fee and Trustee's Fee, to the holders of the
Offered Certificates on the first
Distribution Date.
PRE-FUNDING FEATURE: On the Closing Date, a portion of the
proceeds from the sale of the Certificates
(the "Pre-Funded Amount") will be deposited
with the Trustee in a segregated account (the
"Pre-Funding Account") and used by the Trust
to purchase Subsequent Home Equity Loans
during the Pre-Funding Period. The Pre-
Funded Amount will be reduced during the
Pre-Funding Period by the amounts thereof
used to fund such purchases. Any amounts
remaining in the Pre- Funding Account
following the Pre-Funding Period will be (i)
paid in respect of the Class F-A Certificates
in the case of amounts which had been
allocated to fund the purchase of Subsequent
Home Equity Loans that are Group F Fixed Rate
Home Equity Loans, (ii) paid in respect of
the [Class IA-1] Certificates in the case of
amounts which had been allocated to fund the
purchase of Subsequent Home Equity Loans that
are Group I Adjustable Rate Home Equity Loans
and (iii) paid in respect of the [Class
IIA-1] Certificates in the case of amounts
which had been allocated to fund the purchase
of Subsequent Home Equity Loans which are
Group II Adjustable Rate Home Equity Loans.
P& I ADVANCES: Unless the Servicer determines that any
proposed advance is not recoverable from the
related Home Equity Loan, the Servicer will
be required to advance principal and interest
due at each Distribution Date.
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
CERTIFICATE STRUCTURE
CREDIT ENHANCEMENT: Credit enhancement for Class A Certificates
is provided by an MBIA insurance policy and
overcollateralization.
Monthly Excess Spread is available to cover
initial losses for all Sub-Pools.
DISTRIBUTIONS TO
CERTIFICATEHOLDERS: Group IA and Group IIA Sub-Pools include
adjustable-rate, first-lien, closed-end home
equity loans subject to interest rate
adjustments after an initial period of up to
36 months (the "Adjustable Rate Home Equity
Loans"; all Home Equity Loans other than the
Adjustable Rate Home Equity Loans are
referred to herein as the "Fixed Rate Home
Equity Loans"). The Fixed Rate Home Equity
Loans consist of Group F Home Equity Loans.
Group I-A Home Equity Loan have an original
principal balance of no more than $227,150,
(excluding higher limit principal balances
for properties in Alaska and Hawaii). Group
II Loans are Adjustable Rate Home Equity
Loans, designated as Sub-Pool Group II-A,
respectively, (without regard to whether or
not they conform to such balance limitation).
[OVERCOLLATERALIZATION:
(1) Before the Stepdown Date,
overcollateralization builds from an
initial deposit of [ ]% to [ ]% of the
original loan balance of the
adjustable-rate loan groups,
respectively.
(2) On and after the Stepdown Date,
overcollateralization is maintained at [
]% of the Remaining loan balance of the
sum of the adjustable-rate Group I-A and
Group II-A (subject to performance
triggers).
(3) The overcollateralization amount is
subject to a floor of [ ]% of the
original loan balance of the sum of both
adjustable rate loan groups.]
[INTEREST DISTRIBUTIONS: Interest Collections (net of the Servicing
Fee) will generally be allocated in the
following priority:
FIXED-RATE AND FLOATING-RATE CASH FLOWS
1. Trustee Fee
2. Class [ ] current interest
3. Build adjustable-rate
overcollateralization to the respective
Group target level [To the other
respective loan group]
[PRINCIPAL DISTRIBUTIONS: Each Class will be paid principal due from
its corresponding collateral group.
[STEPDOWN DATE- the earlier to occur of: (i)
the later of: (x) the 30th Payment Date or
(y) when credit enhancement reaches its
target level and (ii) when the Class A
Certificates are retired in full.]
[DELINQUENCY/LOSS TRIGGER EVENTS - TBA]
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
[CLASS ] INTEREST
CARRYOVER: If on any Distribution Date, the Classes [ ]
ARM Pass-Through Rate is based on the
Available Funds Pass-Through Rate, holders of
such Certificates will be entitled to receive
the Available Funds Interest Limitation
Amount to the extent funds are available. The
"Available Funds Interest Limitation Amount"
is the excess of (i) the amount of interest
the Class [ ] Certificateholders would be
entitled to receive on such Distribution Date
had interest been calculated based on
one-month LIBOR plus the Pass- Through Margin
(but in no event exceeding [ ]%) over (ii)
the amount of interest such Class will
receive on such Distribution Date at the
Available Funds Pass-Through Rate, together
with the unpaid portion of any such excess
from prior Distribution Dates (and interest
accrued thereon at the then applicable Class
[ ] Pass-Through Rate, without giving effect
to the Available Funds Pass-Through Rate, but
in no event exceeding [ ]%). The ratings
assigned to the Offered Certificates do not
address the likelihood of the payment of any
Interest Carryover Amount.
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
HOME EQUITY LOANS
The Home Equity Loans consist of both fixed rate and adjustable rate
first lien, closed-end home equity loans. The adjustable rate loans are subject
to semi-annual interest rate adjustments after an initial six month, twenty-four
month, or thirty-six month period (the "Adjustable Rate Home Equity Loans"). All
Home Equity Loans which are not Adjustable Rate Loans are referred to herein as
"Fixed Rate Home Equity Loans." The obligations of the Obligor under each Home
Equity Contract are secured by the related real estate.
The information concerning the Initial Home Equity Loans presented
below is based on a pool originated through November 30, 1998. The issuer
intends to acquire and sell Additional Home Equity Loans to the Trust on the
Closing Date and Subsequent Loans to the Trust thereafter. Although the
characteristics of the final pool of Home Equity Loans will differ from the
characteristics of the Initial Home Equity Loans shown below, the issuer does
not expect that the characteristics of the Additional and Subsequent Home Equity
Loans sold to the Trust will vary materially from those of the Initial Home
Equity Loans herein.
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
GROUP II-A
INITIAL ADJUSTABLE RATE NON-CONFORMING HOME EQUITY LOANS
Number of Loans: 353
Wgt. Avg. Contract Rate: 9.01%
Range of Rates: 6.50% - 12.75%
Wgt. Avg. Orig. Maturity: 360.00 month
Wgt. Avg. Rem. Maturity: 358.75 months
Avg. Rem. Princ. Balance: $323,142
Wgt. Avg. LTV: 78.34%
<TABLE>
<CAPTION>
PRINCIPAL BALANCE AT ORIGINATION OF THE LOANS
% of Group II-A Loans by
Principal Balance Number of Aggregate Original Original Principal
at Origination Loans Principal Balance Balance
<S> <C> <C> <C>
$220,000.01 - 36 $ 8,416,005 7.32%
$240,000.00
$240,000.01 - 53 13,320,888 11.58
$260,000.00
$260,000.01 - 54 14,598,488 12.69
$280,000.00
$280,000.01 - 36 10,482,116 9.11
$300,000.00
$300,000.01 - 31 9,683,750 8.42
$320,000.00
$320,000.01 - 26 8,571,780 7.45
$340,000.00
$340,000.01 - 21 7,394,700 6.43
$360,000.00
$360,000.01 - 18 6,620,832 5.76
$380,000.00
$380,000.01 - 13 5,102,675 4.44
$400,000.00
$400,000.01 - 11 4,536,700 3.94
$420,000.00
$420,000.01 - 11 4,707,591 4.09
$440,000.00
$440,000.01 - 10 4,530,150 3.94
$460,000.00
$460,000.01 - 10 4,703,800 4.09
$480,000.00
$480,000.01 - 17 8,478,089 7.37
$500,000.00
$500,000.01 or 6 3,893,750 3.38
greater
--- ---------- ------
Total(1) 353 $115,041,314 100.00%
=== ============ =======
(1) Percentages do not add to to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
REMAINING PRINCIPAL BALANCE OF THE LOANS
% of Group II-A Loans by
Remaining Number of Aggregate Remaining Remaining Principal
Principal Balance Loans Principal Balance Balance
<S> <C> <C> <C>
$220,000.01 - 40 $ 9,310,664 8.16%
$240,000.00
$240,000.01 - 53 13,291,174 11.65
$260,000.00
$260,000.01 - 54 14,560,985 12.77
$280,000.00
$280,000.01 - 35 10,168,800 8.91
$300,000.00
$300,000.01 - 31 9,655,792 8.46
$320,000.00
$320,000.01 - 25 8,221,418 7.21
$340,000.00
$340,000.01 - 24 8,448,460 7.41
$360,000.00
$360,000.01 - 16 5,910,547 5.18
$380,000.00
$380,000.01 - 12 4,719,989 4.14
$400,000.00
$400,000.01 - 13 5,370,642 4.71
$420,000.00
$420,000.01 - 7 2,996,216 2.63
$440,000.00
$440,000.01 - 10 4,495,908 3.94
$460,000.00
$460,000.01 - 11 5,143,886 4.51
$480,000.00
$480,000.01 - 16 7,920,633 6.94
$500,000.00
$500,000.01 or 6 3,854,029 3.38
----- ----------- -------
greater
Total(1) 353 $114,069,142 100.00%
=== ============ =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
State Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Arizona 3 $ 1,075,072 0.94%
California 211 68,634,508 60.17
Colorado 24 8,454,432 7.41
Connecticut 1 466,419 0.41
Florida 10 2,963,308 2.60
Georgia 2 626,958 0.55
Illinois 10 3,140,482 2.75
Iowa 1 428,403 0.38
Kentucky 2 648,692 0.57
Louisiana 2 923,551 0.81
Maryland 4 1,403,521 1.23
Massachusetts 3 912,251 0.80
Michigan 11 3,259,404 2.86
Minnesota 1 280,746 0.25
Montana 1 256,994 0.23
Nebraska 1 268,385 0.24
Nevada 8 2,669,771 2.34
New Jersey 2 543,922 0.48
New Mexico 2 754,571 0.66
New York 12 3,845,244 3.37
Ohio 1 260,353 0.23
Oregon 9 2,569,880 2.25
South Dakota 1 229,985 0.20
Texas 15 4,749,203 4.16
Utah 5 1,439,520 1.26
Washington 10 3,002,963 2.63
Washington DC 1 260,604 0.23
----- --------------- --------
Total(1) 353 $ 114,069,142 100.00%
===== ============== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
CURRENT MORTGAGE RATES OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Mortgage Rate Loans Principal Balance Principal Balance
<S> <C> <C> <C>
6.500% to 6.999% 6 $ 2,149,849 1.88%
7.000% to 7.499% 4 1,564,401 1.37
7.500% to 7.999% 31 9,872,467 8.65
8.000% to 8.499% 37 11,329,225 9.93
8.500% to 8.999% 140 46,033,023 40.36
9.000% to 9.499% 44 14,361,196 12.59
9.500% to 9.999% 54 16,503,854 14.47
10.000% to 10.499% 13 4,244,546 3.72
10.500% to 10.999% 15 4,682,096 4.10
11.000% to 11.499% 1 328,640 0.29
11.500% to 11.999% 5 2,155,538 1.89
12.000% to 12.499% 1 276,899 0.24
12.500% to 12.999% 2 567,409 0.50
---- ------------- ------
Total(1) 353 $ 114,069,142 100.00%
==== ============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
REMAINING MONTHS TO MATURITY OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Months Remaining Loans Principal Balance Principal Balance
<S> <C> <C> <C>
301 to 360 353 $ 114,069,142 100.00%
----- -------------- ------
Total(1) 353 $ 114,069,142 100.00%
===== ============== ======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
ORIGINAL LOAN-TO-VALUE RATIO OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Loan-to-Value Ratio Loans Principal Balance Principal Balance
<S> <C> <C> <C>
50% or less 5 $ 1,909,514 1.67%
50.01% to 55.00% 3 1,349,455 1.18
55.01% to 60.00% 10 4,061,539 3.56
60.01% to 65.00% 13 4,367,290 3.83
65.01% to 70.00% 28 9,847,347 8.63
70.01% to 75.00% 41 13,305,635 11.66
75.01% to 80.00% 95 30,367,002 26.62
80.01% to 85.00% 109 34,934,799 30.63
85.01% to 90.00% 48 13,926,561 12.21
----- -------------- ------
Total(1) 353 $ 114,069,142 100.00%
===== ============== ======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
PRODUCT TYPE OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Product Type Loans Principal Balance Principal Balance
<S> <C> <C> <C>
2/28 273 $ 87,588,712 76.79%
3/27 9 2,868,726 2.51
Six-Month LIBOR 71 23,611,704 20.70
---- -------------- --------
Total(1) 353 $ 114,069,142 100.00%
==== ============== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
LOAN PROGRAM OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Program Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Full Documentation 251 $ 81,067,199 71.07%
Fast Trac 36 12,262,589 10.75
Stated Income 66 20,739,354 18.18
---- -------------- -------
Total(1) 353 $ 114,069,142 100.00%
==== ============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
PURPOSE OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Purpose Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Purchase 127 $ 40,932,507 35.88%
Refinance - No Cash Out 91 29,113,384 25.52
Refinance Equity 135 44,023,251 38.59
Take- Out
Total(1) 353 $ 114,069,142 100.00%
==== ============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
RISK CATEGORY OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Risk Category Loans Principal Balance Principal Balance
<S> <C> <C> <C>
A- 254 $ 81,122,817 71.12%
B 32 9,575,338 8.39
B- 35 12,516,491 10.97
C 19 6,478,189 5.68
C- 1 862,567 0.76
D 12 $ 3,513,740 3.08
---- ------------ ------
Total(1) 353 $ 114,069,142 100.00%
==== ============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
PROPERTY TYPES OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Property Type Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Single Family 286 $ 91,990,123 80.64%
2 to 4 units 1 490,643 0.43
Condo 13 4,371,057 3.83
Townhouse 1 232,186 0.20
PUD 52 16,985,134 14.89
----- -------------- --------
Total(1) 353 $ 114,069,142 100.00%
===== ============== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
OCCUPANCY STATUS OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Occupancy Status Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Owner Occupied 345 $ 111,248,302 97.53%
Non-Owner Occupied 6 2,056,367 1.80
Second Home 2 764,472 0.67
Total(1) 353 $ 114,069,142 100.00%
==== ================ =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
MONTH OF NEXT RATE ADJUSTMENT OF THE LOANS
% of Group II-A
Month of Next Rate Number of Aggregate Remaining Loans by Remaining
Adjustment Loans Principal Balance Principal Balance
<S> <C> <C> <C>
January 1999 1 $ 493,985 0.43%
March 1999 1 423,841 0.37
April 1999 18 5,935,187 5.20
May 1999 28 9,212,329 8.08
June 1999 22 7,313,863 6.41
July 1999 1 232,500 0.20
November 1999 1 862,567 0.76
July 2000 3 824,703 0.72
August 2000 8 3,373,734 2.96
September 2000 18 5,559,511 4.87
October 2000 75 24,169,097 21.19
November 2000 69 22,365,648 19.61
December 2000 99 30,433,453 26.68
November 2001 7 2,312,593 2.03
December 2001 2 556,133 0.49
----- -------------- --------
Total 353 $114,069,142 100.00%
===== ============ ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
GROSS MARGINS OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Margin Loans Principal Balance Principal Balance
<S> <C> <C> <C>
4.000 to 4.499% 3 $ 939,509 0.82%
5.000 to 5.499% 5 1,435,343 1.26
5.500 to 5.999% 35 11,322,451 9.93
6.000 to 6.499% 39 12,602,599 11.05
6.500 to 6.999% 266 85,786,318 75.21
7.000 to 7.499% 2 562,037 0.49
7.500 to 7.999% 3 1,420,886 1.25
---- -------------- ------
Total(1) 353 $ 114,069,142 100.00%
==== ============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
MAXIMUM LOAN RATES OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Maximum Rate Loans Principal Balance Principal Balance
<S> <C> <C> <C>
12.500% to 12.999% 6 $ 2,149,849 1.88%
13.000% to 13.499% 4 1,564,401 1.37
13.500% to 13.999% 31 9,872,467 8.65
14.000% to 14.499% 37 11,329,225 9.93
14.500% to 14.999% 137 45,090,054 39.53
15.000% to 15.499% 45 14,589,514 12.79
15.500% to 15.999% 56 17,218,505 15.09
16.000% to 16.499% 13 4,244,546 3.72
16.500% to 16.999% 15 4,682,096 4.10
17.000% to 17.499% 1 328,640 0.29
17.500% to 17.999% 5 2,155,538 1.89
18.000% to 18.499% 1 276,899 0.24
18.500% to 18.999% 2 567,409 0.50
---- -------------- ------
Total(1) 353 $ 114,069,142 100.00%
=== ============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
MINIMUM LOAN RATES OF THE LOANS
% of Group II-A
Number of Aggregate Remaining Loans by Remaining
Minimum Rate Loans Principal Balance Principal Balance
<S> <C> <C> <C>
6.500% to 6.999% 6 $ 2,149,849 1.88%
7.000% to 7.499% 4 1,564,401 1.37
7.500% to 7.999% 31 9,872,467 8.65
8.000% to 8.499% 37 11,329,225 9.93
8.500% to 8.999% 140 46,033,023 40.36
9.000% to 9.499% 45 14,589,514 12.79
9.500% to 9.999% 53 16,275,536 14.27
10.000% to 10.499% 13 4,244,546 3.72
10.500% to 10.999% 15 4,682,096 4.10
11.000% to 11.499% 1 328,640 0.29
11.500% to 11.999% 5 2,155,538 1.89
12.000% to 12.499% 1 276,899 0.24
12.500% to 12.999% 2 567,409 0.50
---- -------------- ------
Total(1) 353 $ 114,069,142 100.00%
==== ============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
GROUP I-A
INITIAL ADJUSTABLE RATE CONFORMING HOME EQUITY LOANS
Number of Loans: 2,487
Wgt. Avg. Contract Rate: 9.52%
Range of Rates: 6.99% - 14.75%
Wgt. Avg. Orig. Maturity: 359.70
Wgt. Avg. Rem. Maturity: 358.65
Avg. Rem. Princ. Balance: $102,440
Wgt. Avg. LTV: 78.47%
<TABLE>
<CAPTION>
PRINCIPAL BALANCE AT ORIGINATION OF THE LOANS
% of Group I-A
Principal Balance Number of Aggregate Remaining Loans by Remaining
Origination Loans Principal Balance Principal Balance
<S> <C> <C> <C>
$ 10,000.01 - $ 15 $ 240,361 0.09%
20,000.00
$ 20,000.01 - $ 64 1,660,529 0.65
30,000.00
$ 30,000.01 - $ 103 3,687,718 1.44
40,000.00
$ 40,000.01 - $ 162 7,447,522 2.90
50,000.00
$ 50,000.01 - $ 210 11,727,264 4.57
60,000.00
$ 60,000.01 - $ 211 13,843,265 5.39
70,000.00
$ 70,000.01 - $ 187 14,074,414 5.48
80,000.00
$ 80,000.01 - $ 165 14,055,746 5.47
90,000.00
$ 90,000.01 - 205 19,581,249 7.62
$100,000.00
$100,000.01 - 196 20,644,047 8.04
$110,000.00
$110,000.01 - 180 20,712,949 8.06
$120,000.00
$120,000.01 - 121 15,106,362 5.88
$130,000.00
$130,000.01 - 133 17,937,196 6.98
$140,000.00
$140,000.01 - 116 16,863,775 6.57
$150,000.00
$150,000.01 - 74 11,519,143 4.48
$160,000.00
$160,000.01 - 61 10,084,209 3.93
$170,000.00
$170,000.01 - 57 9,981,706 3.89
$180,000.00
$180,000.01 - 35 6,489,142 2.53
$190,000.00
$190,000.01 - 64 12,552,576 4.89
$200,000.00
$200,000.01 - 38 7,801,525 3.04
$210,000.00
$210,000.01 - 49 10,549,952 4.11
$220,000.00
$220,000.01 - 24 5,354,735 2.08
$230,000.00
$230,000.01 - 3 710,820 0.28
$240,000.00
$240,000.01 - 2 496,100 0.19
$250,000.00
$250,000.01 - 9 2,531,100 0.99
$350,000.00
$350,000.01 - 3 1,203,750 0.47
$450,000.00
----- -------------- -------
Total(1) 2,487 $ 256,857,154 100.00%
===== ================ ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
REMAINING PRINCIPAL BALANCE OF THE LOANS
% of Group I-A
Remaining Number of Aggregate Remaining Loans by Remaining
Principal Balance Loans Principal Balance Principal Balance
<S> <C> <C> <C>
$ 10,000.01 - $ 15 $ 237,710 0.09%
20,000.00
$ 20,000.01 - $ 65 1,674,847 0.66
30,000.00
$ 30,000.01 - $ 103 3,659,842 1.44
40,000.00
$ 40,000.01 - $ 163 7,440,357 2.92
50,000.00
$ 50,000.01 - $ 213 11,831,349 4.64
60,000.00
$ 60,000.01 - $ 212 13,850,971 5.44
70,000.00
$ 70,000.01 - $ 189 14,175,374 5.56
80,000.00
$ 80,000.01 - $ 168 14,287,660 5.61
90,000.00
$ 90,000.01 - 203 19,336,841 7.59
$100,000.00
$100,000.01 - 209 21,991,031 8.63
$110,000.00
$110,000.01 - 169 19,441,666 7.63
$120,000.00
$120,000.01 - 123 15,355,187 6.03
$130,000.00
$130,000.01 - 130 17,499,500 6.87
$140,000.00
$140,000.01 - 111 16,081,851 6.31
$150,000.00
$150,000.01 - 73 11,323,750 4.44
$160,000.00
$160,000.01 - 63 10,383,483 4.08
$170,000.00
$170,000.01 - 52 9,063,062 3.56
$180,000.00
$180,000.01 - 42 7,768,520 3.05
$190,000.00
$190,000.01 - 60 11,737,930 4.61
$200,000.00
$200,000.01 - 36 7,356,637 2.89
$210,000.00
$210,000.01 - 55 11,797,440 4.63
$220,000.00
$220,000.01 - 16 3,566,786 1.40
$230,000.00
$230,000.01 - 3 704,540 0.28
$240,000.00
$240,000.01 - 3 740,294 0.29
$250,000.00
$250,000.01 - 8 2,265,661 0.89
$350,000.00
$350,000.01 - 3 1,196,550 0.47
$450,000.00
------- ------------- -------
Total(1) 2,487 $ 254,768,837 100.00%
===== ============== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
State Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Alabama 15 $ 1,247,811 0.49%
Alaska 4 482,391 0.19
Arizona 27 2,662,705 1.05
Arkansas 1 40,794 0.02
California 577 78,118,425 30.66
Colorado 231 23,547,826 9.24
Connecticut 5 530,669 0.21
Florida 104 8,847,730 3.47
Georgia 12 1,182,419 0.46
Hawaii 29 4,289,359 1.68
Idaho 36 2,995,811 1.18
Illinois 85 8,739,980 3.43
Indiana 29 1,727,623 0.68
Iowa 27 1,416,527 0.56
Kansas 26 2,313,649 0.91
Kentucky 2 201,710 0.08
Louisiana 14 920,742 0.36
Maine 6 407,448 0.16
Maryland 15 1,963,599 0.77
Massachusetts 30 3,599,817 1.41
Michigan 152 12,913,153 5.07
Minnesota 105 9,199,280 3.61
Mississippi 4 276,433 0.11
Missouri 31 2,768,643 1.09
Montana 3 203,992 0.08
Nebraska 34 2,376,773 0.93
Nevada 119 12,398,924 4.87
New Hampshire 2 327,393 0.13
New Jersey 27 2,619,685 1.03
New Mexico 22 1,962,423 0.77
New York 69 7,240,893 2.84
North Carolina 7 630,029 0.25
North Dakota 1 39,653 0.02
Ohio 32 1,979,212 0.78
Oklahoma 13 903,622 0.35
Oregon 122 12,471,515 4.90
Pennsylvania 29 2,178,652 0.86
Rhode Island 3 216,649 0.09
South Carolina 20 1,560,215 0.61
South Dakota 8 603,480 0.24
Tennessee 18 1,572,942 0.62
Texas 170 13,384,553 5.25
Utah 66 7,246,090 2.84
Vermont 1 123,184 0.05
Virginia 6 529,234 0.21
Washington 73 7,328,561 2.88
Washington DC 5 575,640 0.23
West Virginia 6 393,001 0.15
Wisconsin 53 4,676,776 1.84
Wyoming 11 831,200 0.33
------- --------------- ------
Total(1) 2,487 $ 254,768,837 100.00%
======= ============== ========
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
CURRENT MORTGAGE RATES OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Mortgage Rates Loans Principal Balance Principal Balance
<S> <C> <C> <C>
6.500% to 6.999% 19 $ 2,702,630 1.06%
7.000% to 7.499% 22 2,825,086 1.11
7.500% to 7.999% 107 12,878,788 5.06
8.000% to 8.499% 124 15,481,805 6.08
8.500% to 8.999% 552 66,267,470 26.01
9.000% to 9.499% 296 33,374,342 13.10
9.500% to 9.999% 564 57,414,544 22.54
10.000% to 10.499% 172 14,916,282 5.85
10.500% to 10.999% 311 27,577,516 10.82
11.000% to 11.499% 94 6,835,538 2.68
11.500% to 11.999% 101 6,648,455 2.61
12.000% to 12.499% 58 3,922,873 1.54
12.500% to 12.999% 50 3,073,075 1.21
13.000% to 13.499% 10 485,473 0.19
13.500% to 13.999% 6 323,483 0.13
14.500% to 14.999% 1 41,476 0.02
------ ----------------- -------
Total(1) 2,487 $ 254,768,837 100.00%
====== ================= ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
REMAINING MONTHS TO MATURITY OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Months Remaining Loans Principal Balance Principal Balance
<S> <C> <C> <C>
121 to 180 3 $ 262,448 0.10%
181 to 300 3 249,872 0.10
301 to 360 2,481 254,256,517 99.80
------- ----------------- ------
Total(1) 2,487 $ 254,768,837 100.00%
======= ================= ======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
PRODUCT TYPE OF LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Product Type Loans Principal Balance Principal Balance
<S> <C> <C> <C>
2/28 2,088 $ 211,466,639 83.00%
3/27 63 6,144,284 2.41
Six-Month LIBOR 336 37,157,915 14.58
------- ----------------- ------
Total(1) 2,487 $ 254,768,837 100.00%
======= ================= ======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
ORIGINAL LOAN-TO-VALUE RATIO OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Loan-to-Value Ratio Loans Principal Balance Principal Balance
<S> <C> <C> <C>
50% or less 91 $ 6,926,475 2.72%
50.01% to 55.00% 37 3,254,012 1.28
55.01% to 60.00% 50 3,760,766 1.48
60.01% to 65.00% 102 8,851,033 3.47
65.01% to 70.00% 242 21,246,489 8.34
70.01% to 75.00% 325 29,176,042 11.45
75.01% to 80.00% 759 79,787,913 31.32
80.01% to 85.00% 660 74,597,691 29.28
85.01% to 90.00% 221 27,168,415 10.66
------ --------------- --------
Total(1) 2,487 $ 254,768,837 100.00%
====== =============== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
LOAN PROGRAM OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Program Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Fast Trac 106 $ 11,232,607 4.41%
Full Documentation 1,895 193,640,349 76.01
Stated Income 486 49,895,881 19.58
------ ---------------- --------
Total(1) 2,487 $ 254,768,837 100.00%
====== =================== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
PURPOSE OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Purpose Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Purchase 1,197 $ 120,647,045 47.36
Refinance - No Cash 541 57,707,674 22.65
Out
Refinance Equity 749 76,414,118 29.99
Take- Out
----- --------------- --------
Total(1) 2,487 $ 254,768,837 100.00%
====== ================= ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
RISK CATEGORY OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Risk Category Loans Principal Balance Principal Balance
<S> <C> <C> <C>
A- 1,330 $ 149,193,138 58.56%
B 317 32,467,493 12.74
B- 353 34,649,046 13.60
C 310 24,844,113 9.75
D 177 13,615,047 5.34
------ -------------- -------
Total(1) 2,487 $ 254,768,837 100.00%
====== ============== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
PROPERTY TYPES OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Property Type Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Single Family 2,019 $ 203,627,939 79.93%
2 to 4 units 74 9,983,156 3.92
Condo 186 18,057,825 7.09
Townhouse 7 643,803 0.25
PUD 140 17,591,299 6.90
Manufactured Home 61 4,864,816 1.91
------ ---------------- -------
Total(1) 2,487 $ 254,768,837 100.00%
====== ================= ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
OCCUPANCY STATUS OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Occupancy Status Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Owner Occupied 2,283 238,095,285 93.46%
Non-Owner Occupied 185 $ 14,758,276 5.79
Second Home 19 1,915,276 0.75
------ ----------------- -------
Total(1) 2,487 $ 254,768,837 100.00%
====== ================= ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
MONTH OF NEXT RATE ADJUSTMENT OF THE LOANS
% of Group I-A
Month of Next Rate Number of Aggregate Remaining Loans by Remaining
Adjustment Loans Principal Balance Principal Balance
<S> <C> <C> <C>
January 1999 4 $ 673,001 0.26%
February 1999 4 281,804 0.11
March 1999 12 1,271,265 0.50
April 1999 88 9,158,657 3.59
May 1999 131 15,428,189 6.06
June 1999 97 10,344,999 4.06
August 1999 1 82,433 0.03
January 2000 2 106,840 0.04
March 2000 1 131,296 0.05
April 2000 1 53,330 0.02
May 2000 1 169,158 0.07
June 2000 5 384,003 0.15
July 2000 13 1,146,436 0.45
August 2000 19 1,512,958 0.59
September 2000 90 9,345,812 3.67
October 2000 432 46,795,651 18.37
November 2000 717 72,630,606 28.51
December 2000 806 79,108,116 31.05
August 2001 1 44,519 0.02
September 2001 3 322,589 0.13
October 2001 1 99,132 0.04
November 2001 15 1,579,851 0.62
December 2001 43 4,098,192 1.61
----- -------------- --------
Total(1) 2,487 $254,768,837 100.00%
===== ============ ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
GROSS MARGINS OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Gross Margin Loans Principal Balance Principal Balance
<S> <C> <C> <C>
2.000 to 2.499% 1 $ 49,547 0.02%
3.000 to 3.499% 1 105,494 0.04
4.000 to 4.499% 8 998,351 0.39
4.500 to 4.999% 12 1,029,627 0.40
5.000 to 5.499% 49 4,855,701 1.91
5.500 to 5.999% 273 28,490,878 11.18
6.000 to 6.499% 397 39,141,080 15.36
6.500 to 6.999% 1,693 175,347,410 68.83
7.000 to 7.499% 44 3,684,180 1.45
7.500 to 7.999% 6 748,391 0.29
8.000 to 8.499% 1 93,464 0.04
8.500 to 8.999 2 224,713 0.09
------ --------------- --------
Total(1) 2,487 $ 254,768,837 100.00%
====== =============== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
MAXIMUM LOAN RATES OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Maximum Rate Loans Principal Balance Principal Balance
<S> <C> <C> <C>
12.500% to 12.999% 19 $ 2,702,630 1.06%
13.000% to 13.499% 22 2,825,086 1.11
13.500% to 13.999% 108 13,077,854 5.13
14.000% to 14.499% 120 14,935,554 5.86
14.500% to 14.999% 548 65,967,588 25.89
15.000% to 15.499% 297 33,403,290 13.11
15.500% to 15.999% 558 56,734,871 22.27
16.000% to 16.499% 174 14,990,831 5.88
16.500% to 16.999% 317 28,290,932 11.10
17.000% to 17.499% 94 6,999,918 2.75
17.500% to 17.999% 104 6,917,349 2.72
18.000% to 18.499% 57 3,855,704 1.51
18.500% to 18.999% 51 3,149,628 1.24
19.000% to 19.499% 11 552,643 0.22
19.500% to 19.999% 6 323,483 0.13
21.500% to 21.999% 1 41,476 0.02
---- --------------- ------
Total(1) 2,487 $ 254,768,837 100.00%
===== =============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
MINIMUM LOAN RATES OF THE LOANS
% of Group I-A
Number of Aggregate Remaining Loans by Remaining
Minimum Rate Loans Principal Balance Principal Balance
<S> <C> <C> <C>
6.500% to 6.999% 19 $ 2,702,630 1.06%
7.000% to 7.499% 22 2,825,086 1.11
7.500% to 7.999% 107 12,878,788 5.06
8.000% to 8.499% 125 15,624,579 6.13
8.500% to 8.999% 552 66,248,563 26.00
9.000% to 9.499% 296 33,330,217 13.08
9.500% to 9.999% 564 57,414,544 22.54
10.000% to 10.499% 173 14,915,659 5.85
10.500% to 10.999% 310 27,532,956 10.81
11.000% to 11.499% 93 6,800,979 2.67
11.500% to 11.999% 101 6,648,455 2.61
12.000% to 12.499% 58 3,922,873 1.54
12.500% to 12.999% 50 3,073,075 1.21
13.000% to 13.499% 10 485,473 0.19
13.500% to 13.999% 6 323,483 0.13
14.500% to 14.999% 1 41,476 0.02
------ --------------- -------
Total(1) 2,487 $ 254,768,837 100.00%
====== =============== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
GROUP F
INITIAL FIXED RATE HOME EQUITY LOANS
Number of Loans: 1,364
Wgt. Avg. Contract Rate: 9.83%
Range of Rates: 6.00% - 15.75%
Wgt. Avg. Orig. Maturity: 344.09 months
Wgt. Avg. Rem. Maturity: 340.95 months
Avg. Rem. Princ. Balance: 84,407.61
Wgt. Avg. LTV: 75.35%
<TABLE>
<CAPTION>
PRINCIPAL BALANCES AT ORIGINATION OF THE LOANS
% of Group F
Principal Balance at Number of Aggregate Remaining Loans by Remaining
Origination Loans Principal Balance Principal Balance
<S> <C> <C> <C>
$ 0.01 - $ 10,000.00 1 $ 10,000 0.01%
$ 10,000.01 - $ 20,000.00 41 674,531 0.58
$ 20,000.01 - $ 30,000.00 92 2,363,899 2.04
$ 30,000.01 - $ 40,000.00 158 5,689,056 4.90
$ 40,000.01 - $ 50,000.00 199 9,053,337 7.80
$ 50,000.01 - $ 60,000.00 169 9,306,937 8.01
$ 60,000.01 - $ 70,000.00 124 8,098,568 6.97
$ 70,000.01 - $ 80,000.00 107 8,021,964 6.91
$ 80,000.01 - $ 90,000.00 78 6,693,180 5.76
$ 90,000.01 - $100,000.00 66 6,292,185 5.42
$100,000.01 - $110,000.00 53 5,557,430 4.79
$110,000.01 - $120,000.00 43 4,956,026 4.27
$120,000.01 - $130,000.00 21 2,648,485 2.28
$130,000.01 - $140,000.00 22 2,981,623 2.57
$140,000.01 - $150,000.00 29 4,219,275 3.63
$150,000.01 - $160,000.00 15 2,346,737 2.02
$160,000.01 - $170,000.00 15 2,479,275 2.13
$170,000.01 - $180,000.00 15 2,640,450 2.27
$180,000.01 - $190,000.00 9 1,655,780 1.43
$190,000.01 - $200,000.00 11 2,149,100 1.85
$200,000.01 - $210,000.00 11 2,264,277 1.95
$210,000.01 - $220,000.00 6 1,306,500 1.12
$220,000.01 - $230,000.00 9 2,026,650 1.74
$230,000.01 - $240,000.00 7 1,659,390 1.43
$240,000.01 - $250,000.00 10 2,474,550 2.13
$250,000.01 - $350,000.00 29 8,290,225 7.14
$350,000.01 - $450,000.00 16 6,273,950 5.40
$450,000.01+ 8 4,008,500 3.45
------- ---------- -----
Total(1) 1,364 $116,141,880 100.00%
====== ============ =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
REMAINING PRINCIPAL BALANCES OF THE LOANS
% of Group F
Remaining Number of Aggregate Remaining Loans by Remaining
Principal Balance Loans Principal Balance Principal Balance
<S> <C> <C> <C>
$ 0.01 - $ 10,000.00 1 $ 9,712 0.01%
$ 10,000.01 - $ 20,000.00 42 686,091 0.60
$ 20,000.01 - $ 30,000.00 94 2,410,004 2.09
$ 30,000.01 - $ 40,000.00 156 5,582,360 4.85
$ 40,000.01 - $ 50,000.00 206 9,327,804 8.10
$ 50,000.01 - $ 60,000.00 162 8,885,637 7.72
$ 60,000.01 - $ 70,000.00 132 8,591,199 7.46
$ 70,000.01 - $ 80,000.00 98 7,318,591 6.36
$ 80,000.01 - $ 90,000.00 80 6,813,418 5.92
$ 90,000.01 - $100,000.00 67 6,355,956 5.52
$100,000.01 - $110,000.00 53 5,542,749 4.81
$110,000.01 - $120,000.00 41 4,702,530 4.08
$120,000.01 - $130,000.00 21 2,632,719 2.29
$130,000.01 - $140,000.00 23 3,105,801 2.70
$140,000.01 - $150,000.00 28 4,054,581 3.52
$150,000.01 - $160,000.00 14 2,178,342 1.89
$160,000.01 - $170,000.00 16 2,627,414 2.28
$170,000.01 - $180,000.00 16 2,810,213 2.44
$180,000.01 - $190,000.00 8 1,478,356 1.28
$190,000.01 - $200,000.00 10 1,943,407 1.69
$200,000.01 - $210,000.00 11 2,245,234 1.95
$210,000.01 - $220,000.00 9 1,954,767 1.70
$220,000.01 - $230,000.00 7 1,580,351 1.37
$230,000.01 - $240,000.00 8 1,894,966 1.65
$240,000.01 - $250,000.00 9 2,227,311 1.94
$250,000.01 - $350,000.00 29 8,327,619 7.23
$350,000.01 - $450,000.00 16 6,314,230 5.48
$450,000.01+ 7 3,530,623 3.07
------- ------------ -----
Total(1) 1,364 $115,131,984 100.00%
======= ============ =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES
% of Group F
% of Group F
Number of Aggregate Remaining Loans by Remaining
State Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Alabama 20 $ 1,043,395 0.91%
Alaska 1 95,968 0.08
Arizona 28 1,749,731 1.52
Arkansas 3 194,848 0.17
California 221 28,181,688 24.48
Colorado 41 3,476,499 3.02
Florida 129 9,443,192 8.20
Georgia 8 504,280 0.44
Hawaii 49 8,747,031 7.60
Idaho 5 293,907 0.26
Illinois 45 2,902,595 2.52
Indiana 34 1,881,748 1.63
Iowa 12 468,896 0.41
Kentucky 4 157,640 0.14
Louisiana 38 1,539,438 1.34
Maine 2 85,776 0.07
Maryland 7 610,869 0.53
Massachusetts 3 441,013 0.38
Michigan 58 4,083,117 3.55
Minnesota 31 2,407,586 2.09
Mississippi 8 343,045 0.30
Missouri 22 1,321,691 1.15
Montana 10 784,813 0.68
Nebraska 18 1,452,378 1.26
Nevada 25 2,816,579 2.45
New Hampshire 1 172,906 0.15
New Jersey 3 678,199 0.59
New Mexico 19 1,244,572 1.08
New York 53 5,064,754 4.40
North Carolina 21 1,352,155 1.17
North Dakota 2 147,363 0.13
Ohio 35 2,093,547 1.82
Oklahoma 40 2,045,140 1.78
Oregon 50 5,363,527 4.66
Pennsylvania 53 2,748,570 2.39
Rhode Island 1 54,877 0.05
South Carolina 39 2,531,645 2.20
Tennessee 24 1,591,534 1.38
Texas 136 8,981,179 7.80
Utah 19 2,269,721 1.97
Virginia 9 566,078 0.49
Washington 20 1,804,849 1.57
Washington DC 7 562,831 0.49
West Virginia 2 82,960 0.07
Wisconsin 5 510,316 0.44
Wyoming 3 237,540 0.21
------- ------------ -------
Total(1) 1,364 $115,131,984 100.00%
======= ============ =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
CURRENT MORTGAGE RATES OF THE LOANS
% of Group F
Principal Balance at Number of Aggregate Remaining Loans by Remaining
Origination Loans Principal Balance Principal Balance
<S> <C> <C> <C>
6.000% to 6.499% 1 $ 249,250 0.22%
7.500% to 7.999% 26 2,706,146 2.35
8.000% to 8.499% 56 8,034,468 6.98
8.500% to 8.999% 234 27,938,029 24.27
9.000% to 9.499% 103 11,378,504 9.88
9.500% to 9.999% 314 24,660,892 21.42
10.000% to 10.499% 97 8,510,128 7.39
10.500% to 10.999% 198 14,220,309 12.35
11.000% to 11.499% 79 4,645,103 4.03
11.500% to 11.999% 115 5,913,244 5.14
12.000% to 12.499% 45 2,288,784 1.99
12.500% to 12.999% 59 2,916,035 2.53
13.000% to 13.499% 23 1,047,279 0.91
13.500% to 13.999% 9 485,490 0.42
14.000% to 14.499% 2 42,732 0.04
14.500% to 14.999% 2 85,880 0.07
15.500% to 15.999% 1 9,712 0.01
------- -------- ------
Total(1) 1,364 $115,131,984 100.00%
======= ============ =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
REMAINING MONTHS TO MATURITY THE LOANS
% of Group F
Number of Aggregate Remaining Loans by Remaining
Months Remaining Loans Principal Balance Principal Balance
<S> <C> <C> <C>
61 to 120 11 $ 508,560 0.44%
121 to 180 167 9,547,991 8.29
181 to 300 34 1,810,669 1.57
301 to 360 1,152 103,264,765 89.69
----- --------------- --------
Total(1) 1,364 $115,131,984 100.00%
====== =============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
ORIGINAL LOAN-TO-VALUE RATIO OF THE LOANS
% of Group F
Number of Aggregate Remaining Loans by Remaining
Loan-to-Value Ratio Loans Principal Balance Principal Balance
<S> <C> <C> <C>
50% or less 102 $ 5,806,404 5.04%
50.01% to 55.00% 44 3,038,918 2.64
55.01% to 60.00% 62 3,659,807 3.18
60.01% to 65.00% 73 5,830,588 5.06
65.01% to 70.00% 166 11,961,254 10.39
70.01% to 75.00% 196 14,360,192 12.47
75.01% to 80.00% 372 34,721,484 30.16
80.01% to 85.00% 288 29,231,661 25.39
85.01% to 90.00% 61 6,521,677 5.67
------- -------------- ------
Total(1) 1,364 $115,131,984 100.00%
======= ============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
LOAN PROGRAM OF THE LOANS
% of Group F
Number of Aggregate Remaining Loans by Remaining
Program Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Fast Trac 48 $ 4,000,874 3.48%
Full Documentation 1,050 90,765,812 78.84
Stated Income 266 20,365,298 17.69
------ -------------- ------
Total(1) 1,364 $115,131,984 100.00%
====== ============== =======
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
PURPOSE OF THE LOANS
% of Group F
Number of Aggregate Remaining Loans by Remaining
Purpose Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Purchase 358 $ 27,471,402 23.86%
Refinance - No Cash Out 296 29,221,718 25.38
Refinance Equity Take-Out 710 58,438,864 50.76
------ ------------- -------
Total(1) 1,364 $115,131,984 100.00%
====== ============= ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
<PAGE>
<TABLE>
<CAPTION>
RISK CATEGORY OF THE LOANS
% of Group F
Number of Aggregate Remaining Loans by Remaining
Risk Category Loans Principal Balance Principal Balance
<S> <C> <C> <C>
A- 769 $ 74,635,558 64.83%
B 172 14,459,634 12.56
B- 172 12,221,798 10.62
C 168 8,556,421 7.43
D 83 5,258,575 4.57
------- ------------- --------
Total(1) 1,364 $115,131,984 100.00%
======= ============= ========
- ---------------
Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
PROPERTY TYPES OF THE LOANS
% of Group F
Number of Aggregate Remaining Loans by Remaining
Property Type Loans Principal Balance Principal Balance
<S> <C> <C> <C>
2 to 4 units 53 $ 5,064,411 4.40%
Condo 68 4,590,081 3.99
Manufactured Home 51 2,949,981 2.56
PUD 51 6,442,153 5.60
Single Family 1,133 95,744,361 83.16
Townhouse 8 340,997 0.30
------ -------------- -------
Total(1) 1,364 $115,131,984 100.00%
====== ============== =======
- ---------------
Percentages do not add to 100% due to rounding.
</TABLE>
<TABLE>
<CAPTION>
OCCUPANCY STATUS OF THE LOANS
% of Group F
Number of Aggregate Remaining Loans by Remaining
Occupancy Status Loans Principal Balance Principal Balance
<S> <C> <C> <C>
Non-Owner Occupied 165 $ 8,000,151 6.95%
Owner Occupied 1,192 106,493,929 92.50
Second Home 7 637,905 0.55
-------- -------------- ------
Total(1) 1,364 $115,131,984 100.00%
======== ============== ========
- ---------------
(1) Percentages do not add to 100% due to rounding.
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no
circumstances shall the information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The securities may not be sold nor may an offer to buy be
accepted prior to the delivery of a final prospectus relating to the securities.
The above preliminary description of the underlying assets has been provided by
the issuer and has not been independently verified by Credit Suisse First
Boston. All information described above is preliminary, limited in nature and
subject to completion or amendment. Credit Suisse First Boston makes no
representation that the above referenced security will actually perform as
described in any scenario presented.
